Legal & General Group Plc Invests $329.76 Million in Humana Inc. $HUM

Key Points

• Legal & General Group bought 830,170 Humana shares worth approximately $329.76 million, giving it a 0.69% stake. Institutional investors collectively own 92.38% of the company.
• Analyst sentiment is mixed: Humana has an overall “Hold” rating, with 14 Buy, 15 Hold and 1 Sell ratings, and an average price target of $403.91.
• Humana exceeded quarterly expectations, reporting $7.61 in earnings per share and $40.89 billion in revenue, with revenue up 26.2% year over year. Shares opened at $388.92, near the analyst price target.

Legal & General Group Plc purchased a new position in shares of Humana Inc. (NYSE:HUM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 830,170 shares of the insurance provider's stock, valued at approximately $329,760,000. Legal & General Group Plc owned 0.69% of Humana at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company purchased a new stake in Humana in the 2nd quarter worth about $27,879,000. Manning & Napier Advisors LLC purchased a new position in shares of Humana during the second quarter valued at approximately $1,412,000. Granger Management LLC bought a new position in shares of Humana during the second quarter valued at approximately $202,000. Cibc World Market Inc. bought a new position in shares of Humana during the second quarter valued at approximately $6,006,000. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of Humana in the second quarter worth approximately $2,565,000. 92.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUM. Royal Bank Of Canada raised their price target on Humana from $246.00 to $415.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 9th. Robert W. Baird set a $390.00 target price on Humana in a research note on Thursday, July 30th. Evercore upgraded Humana from an "in-line" rating to an "outperform" rating and set a $480.00 target price on the stock in a research note on Wednesday, July 29th. Barclays lifted their target price on Humana from $344.00 to $407.00 and gave the stock an "equal weight" rating in a research report on Friday, July 31st. Finally, William Blair began coverage on shares of Humana in a research note on Wednesday, May 20th. They set an "outperform" rating for the company. Fourteen analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $403.91.

Humana Stock Up 0.6%

Shares of NYSE:HUM opened at $388.92 on Wednesday. The business's 50 day moving average is $383.88 and its 200 day moving average is $285.00. The stock has a market cap of $46.70 billion, a P/E ratio of 36.79, a price-to-earnings-growth ratio of 2.20 and a beta of 0.72. Humana Inc. has a 52-week low of $163.11 and a 52-week high of $428.88. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.62.

Humana (NYSE:HUM - Get Free Report) last issued its earnings results on Wednesday, July 29th. The insurance provider reported $7.61 earnings per share for the quarter, beating analysts' consensus estimates of $7.27 by $0.34. Humana had a return on equity of 11.20% and a net margin of 0.88%.The business had revenue of $40.89 billion during the quarter, compared to analyst estimates of $40.58 billion. During the same period in the previous year, the company posted $6.27 EPS. Humana's revenue was up 26.2% on a year-over-year basis. Sell-side analysts predict that Humana Inc. will post 9.12 EPS for the current year.

About Humana

Humana Inc NYSE: HUM is a health insurance company headquartered in Louisville, Kentucky, that primarily serves individuals and groups across the United States. The company is best known for its Medicare business, offering Medicare Advantage plans and prescription drug (Part D) coverage, alongside a range of commercial and employer-sponsored group health plans. Humana's products are designed to cover medical, behavioral health and pharmacy needs for members, with particular emphasis on seniors and Medicare-eligible populations.

In addition to traditional insurance products, Humana provides care-management and wellness services intended to support chronic-condition management, preventive care and care coordination.

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